Litecoin value traded upper and examined the $165 resistance towards the USA Dollar. LTC/USD discovered dealers and is lately buying and selling decrease in opposition to $145.

Key Talking Points

  • Litecoin value received upside momentum and traded above the $160 stage (Data feed of Kraken) towards the USA Dollar.
  • There used to be a wreck beneath an ascending channel with make stronger at $158 at the hourly chart of the LTC/USD pair.
  • The pair is prone to business decrease within the quick time period in opposition to the $145 and $140 make stronger ranges.

Litecoin Price Forecast

Yesterday, we mentioned that litecoin value may just business above the $150 stage towards the USA buck. The LTC/USD pair even traded above the $160 resistance, but it surely used to be no longer ready to retain momentum above the said stage.

A top used to be shaped close to $163.66 and it kind of feels just like the $160-165 resistance zone as soon as once more avoided positive factors. The pair moved down and broke the 23.6% Fib retracement stage of the ultimate wave from the $140.90 low to $163.66 top.

Litecoin value is forming a momentary base at $140 towards the United States Dollar. LTC/USD is prone to business upper and it might business in opposition to the $160-165 resistance.

Key Talking Points

  • Litecoin value is slowly shifting upper after forming a tight enhance base at $140 (Data feed of Kraken) towards the United States Dollar.
  • There used to be a wreck above a connecting bearish pattern line with resistance at $152 at the hourly chart of the LTC/USD pair.
  • The pair is positioned well for extra positive aspects nowadays in opposition to the $160 and $165 ranges.

Litecoin Price Forecast

The previous 2-Three periods have been most commonly certain for litecoin value above the $120 pivot stage towards the United States greenback. The LTC/USD pair shaped a just right enhance across the $138-140 ranges and began an upside transfer above $145.

During the upside transfer, it broke the 23.6% Fib retracement stage of the ultimate decline from the $169.71 prime to $140.91 low. It opened the doorways for additional positive aspects and the associated fee used to be in a position to transport above the $150 stage and the 100 hourly easy shifting moderate.

Litecoin Price Analysis: LTC/USD To Rise Towards $160-165

More importantly, there used to be a wreck above a connecting bearish pattern line with resistance at $152 at the hourly chart of the LTC/USD pair. The pair is now positioned well above the $150 stage and the 100 hourly SMA.

At the instant, the associated fee is checking out the 50% Fib retracement stage of the ultimate decline from the $169.71 prime to $140.91 low. Once there’s a right kind shut above the mentioned Fib stage, the associated fee may just proceed to transport upper in opposition to the $160 and $165 resistance ranges.

Above the $165 stage, litecoin value can even retest the ultimate swing prime of $169. On the drawback, the 100 hourly SMA and the $150 stage are respectable helps.

Below $150, the following main enhance is round $140, which acted as a just right purchase zone on many events. The present value motion is certain and it kind of feels like LTC/USD might possibly business in opposition to $165 and even $169.

Trade secure buyers and don’t overtrade!

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Cryptocurrency charts and costs equipped via TradingView

The maximum essential wreck used to be beneath an ascending channel with make stronger at $158 at the hourly chart of the LTC/USD pair. It has opened the doorways a recent problem wave from $163.66.

The pair is lately buying and selling close to the $155 stage and the 100 hourly easy shifting moderate. It may just quickly wreck the $150 stage and business additional decrease. An speedy make stronger is across the 50% Fib retracement stage of the ultimate wave from the $140.90 low to $163.66 top.

However, if the new wreck is correct, there’s a likelihood that litecoin value might retest the $145 make stronger stage. Below the $140 make stronger, the fee may just even retest the ultimate swing low of $140.90, which is a big make stronger house.

On the upside, an preliminary resistance is close to the $158-160 stage. Above $160, LTC/USD may just as soon as once more try to transfer above the $165 stage. In the quick time period, the fee may just decline and retest the $145 make stronger stage, adopted via a take a look at of $140.00.

Trade protected buyers and don’t overtrade!

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